Waimea Community Dam Shareholders update June update 20/06/2019 Waimea Water Ltd 1
Waimea Community Dam is underway • Fully funded TDC, WIL + CIIL • WWL incorporated 27 Nov 2018 • Financial close 21 Dec 2018 • Construction commenced 14 Jan 2019 • Organisation in place early 2019 • Dawn Blessing March 2019 20/05/2019 Waimea Water Ltd 2
WWL Organisation Strong experienced board meeting regularly Experienced and highly skilled specialists • Environment & Sustainability • Design • Construction • Project Services • Business & Finances 20/05/2019 Waimea Water Ltd 3
Design • Damwatch has been appointed as Designer and Construction-Reviewer • Currently focusing on opportunities to reduce costs, optimise design and de-risking • 257 Drawings revised and being reissued for construction 20/05/2019 Waimea Water Ltd 4
Construction Fulton Hogan Taylors Joint Venture is the main contractor building the Dam • Access Road: 3 km of road out of 6.5 km is complete. Right Hand Abutment access underway • Preparatory work: Constructed Sediment Retention Ponds, cleared Pig Flat, felling trees • Site Monitoring: Turbidity water quality monitoring 20/05/2019 Waimea Water Ltd 5
Construction: July - August • Construction of access to right hand side abutment • River diversion left hand side • Commence vegetation clearance in reservoir footprint • Commence clearing and excavating left and right hand sides • Commence constructing temporary coffer dams • Compaction / Permeability trials 20/05/2019 Waimea Water Ltd 6
Environment and Sustainability • 121 Resource Consent conditions • Working 98 action items • Sediment Retention Ponds (Pig Flat) • Construction Environmental Management Plans approved and being audited • Biodiversity Management Plan approved with 8 sub- management plans. BTAG support • 4 rare plant species being moved (BMP #2) • Planning Rough Island Wetland restoration (BMP #4) • Planning for Emission Trading Scheme (ETS) • Preparing Reservoir Management Plan 20/05/2019 Waimea Water Ltd 7
Program 20/05/2019 Waimea Water Ltd 8
Challenges and Risks • Geology to be better understood 4Q2019 • Mechanical, electrical and surveillance design finalised 4Q2019 • Flood risk with contractor but risk to schedule. 12 May 1:50 year 47 mm/hr = 250 m3/s • Force Majeure: Drought / Fire risk; Disturbances In the News Waimea Dam to aid eels on journey to Pacific – scientist, 11 th December 2019, Radio New Zealand Construction of Waimea dam set to begin, 16 th January 2019, Nelson Mail Waimea Water boss pumped to be part of 'legacy' dam project, 9 th May 2019, Nelson Mail Waimea Water brings exec home, 9 th May 2019, Farmers Weekly Waimea Water pumped and ready for more action, 7 th June 2019, Waimea Weekly 20/05/2019 Waimea Water Ltd 9
SOI: We are doing what we said we would do Implement Health and Safety Management System complementing Contractor’s system Health & Safety Verify and audit Contractor compliance and track investigations Track key leading and lagging indicators Comply with Resource Consent conditions and Biodiversity Management Plan Sustainability Review and audit Construction Environmental Management and Vegetation Clearance Plans Water quality monitoring ≈ Implement carbon offset (ETS) plan; and minimise carbon emissions Project Delivery Optimise design for safe, reliable and efficient operation Design (PS-1; PS-2) and construction (PS-4) certification ≈ Review and optimise schedule for practical completion Oct-2021 20/05/2019 Waimea Water Ltd 10
SOI: We are doing what we said we would do Provide regular and transparent cost and funding forecasts to completion Funding Meet statutory and agreed financial deadlines with financial accounts. Audited Operate an effective internal control environment Engagement ≈ Active engagement with our communities and stakeholders Proportionate media and social media presence ≈ Engage Mana Whenua Risk Manage Implemented small and specialised organisation of experienced professionals Implemented a system to determine and mitigate risks Governing the project to mitigate cost and schedule risk 20/05/2019 Waimea Water Ltd 11
SOI: We are doing what was said we would do Funding and Spend Forecast cost & schedule to complete 120 Millions 100 80 60 40 20 - Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Project Costs Budget Project Costs Actual 20/05/2019 Waimea Water Ltd 12
SOI: We are doing what we said we would do Risk Management: 22% of Project Budget at Risk Risk Register (56) Compaction trials Further Borelogs M&E Design Refine Grout Spec FM Preparedness Identify Ownership Assess Mitigate Portfolio 8/04/2019 Waimea Water Ltd 13
SOI: We are doing what we said we would do Health and Safety Compliance and Audit 0 Late or urgent compliance issues: 20/05/2019 Waimea Water Ltd 14
Plan: Quarterly Update to Shareholders 1. Project Update August 2. Annual report 3. Performance against Statement of Intent previous year 1. Project Update November 1. Project Update February 2. Interim (half yearly) report 3. Proposed Statement of Intent for next year May 1. Project Update 20/05/2019 Waimea Water Ltd 15
Governance 20/05/2019 Waimea Water Ltd 16
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